Strictly Based on the Latest Syllabus issued by CBSE Board for 2015 Examination

Chapter-Wise SolutionsQUESTION BANK

Economics

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CONTENTS z Solved Paper, 2014 (KVS) 9 - 16

PART-A : STATISTICS FOR ECONOMICS

Unit-1 : Introduction

1. Introduction of Data 1 - 5

Unit-2 : Collection, Organization and Presentation of Data

2. Collection of Data 6 - 12

3. Organization of Data 13 - 19

4. Presentation of Data 20 - 26

Unit-3 : Statistical Tools and Interpretation

5. Measures of Central Tendency 27 - 36

6. Measures of Dispersion 37 - 45

7. Correlation 46 - 55

8. Index Numbers 56 - 63

PART-B : INDIAN ECONOMIC DEVELOPMENT

Unit-4 : Development Experience (1947-1990) and Economic Reforms Since 1991

1. Indian Economy on the Eve of Independence 64 - 72

2. Indian Economy (1950-1990) 73 - 84

3. Economic Reforms Since 1991 85 - 93

Unit-5 : Current Challenges facing Indian Economy (OTBA)

Open Text-Based Assessment z Theme 1 : Poverty and its Effects in India. 97 - 102 z Theme 2 : Status of Employment in our country 103 - 107 z Theme 3 : Need of Sustainable Develpment 108 - 112

Unit-6 : Development Experience of India : A Comparision with Neighbours

1. Comparative Development Experiences of India and its Neighbours 113 - 120

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PREFACE

SYLLABUSEconomics

Class - XI (2014-15)Paper 1 3 Hours 90 Marks

UnitsPart A Statistics for Economics

Periods Marks

1. Introduction 713

2. Collection, Organisation and Presentation of Data 273. Statistical Tools and Interpretation 66 27

100 40Part B Indian Economic Development

4. Development Experience (1947-90) 18 13 and Economic Reforms since 1991 16 125. Current Challenges facing Indian Economy (OTBA) 60 106. Development Experience of India - A Comparison with Neighbours 14 15

Theory Paper (40+50 = 90 Marks) 108 50Part C Project Work 12 10

Note: The question paper will include a Section on Open Text Based Assessment (OTBA) of 10 marks from Unit-5 of Part-B. From this unit, no other questions will be asked in the theory examination. The OTBA will be asked only during the annual examination to be held in the March 2015. The open text material on the identified unit will be supplied to students in advance. The OTBA is designed to test the analytical and higher order thinking skills of students.

Part A: Statistics for Economics In this course, the learners are expected to acquire skills in collection, organisation and

presentation of quantitative and qualitative information pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools to analyse, and interpret any economic information and draw appropriate inferences. In this process, the learners are also expected to understand the behaviour of various economic data.

UNIT 1: Introduction 07 Periods

What is Economics?

Meaning, scope and importance of statistics in Economics

Unit 2: Collection, Organisation and Presentation Of data 27 Periods

Collection of data - sources of data - primary and secondary; how basic data is collected; methods of collecting data; some important sources of secondary data: Census of India and National Sample Survey Organisation.

(v)

Organisation of Data: Meaning and types of variables; Frequency Distribution.

Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: (i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams (histogram, polygon and ogive) and (iii) Arithmetic line graphs (time series graph).

Unit 3 : Statistical Tools and Interpretation 66 Periods

(For all the numerical problems and solutions, the appropriate economic interpretation may be attempted. This means, the students need to solve the problems and provide interpretation for the results derived.)

Measures of Central Tendency- mean (simple and weighted), median and mode Measures of Dispersion - absolute dispersion (range, quartile deviation, mean deviation and standard deviation); relative dispersion (co-efficient of quartile-deviation, co-efficient of mean deviation, co-efficient of variation); Lorenz Curve: Meaning and its application.

Correlation - meaning, scatter diagram; Measures of correlation - Karl Pearson’s method (two variables ungrouped data) Spearman’s rank correlation.

Introduction to Index Numbers - meaning, types - wholesale price index, consumer price index and index of industrial production, uses of index numbers; Inflation and index numbers.

Some Mathematical tools used in Economics: Equation of a line, slope of a line, slope of a curve.

Part B : Indian Economic Development

Unit 4 : Development Experience (1947-90) and Economic Reforms since 1991: 18 Periods

A brief introduction of the state of Indian economy on the eve of independence. Common goals of Five Year Plans. Main features, problems and policies of agriculture (institutional aspects and new

agricultural strategy, etc.), industry (industrial licensing, etc.) and foreign trade. Economic Reforms since 1991: 16 Periods Need and main features - liberalisation, globalisation and privatisation; An appraisal of LPG policies

Unit 5 : Current challenges facing Indian Economy (OTBA): 60 Periods

Poverty- absolute and relative; Main programmes for poverty alleviation: A critical assessment;

Rural development: Key issues - credit and marketing - role of cooperatives; agricultural diversification; alternative farming - organic farming

Human Capital Formation: How people become resource; Role of human capital in economic development; Growth of Education Sector in India

Employment: Formal and informal, growth and other issues: Problems and policies. Inflation: Problems and Policies Infrastructure: Meaning and Types: Case Studies: Energy and Health: Problems and

Policies- A critical assessment; Sustainable Economic Development: Meaning, Effects of Economic Development on

Resources and Environment, including global warming.

(vi)

(vii)

Unit 6 : Development Experience of India: 14 Periods

A comparison with neighbours

India and Pakistan

India and China

Issues: growth, population, sectoral development and other developmental indicators.

Part C : Developing Projects in Economics 12 Periods The students may be encouraged to develop projects, as per the suggested project

guidelines. Case studies of a few organisations / outlets may also be encouraged. Under this the students will do two comprehensive projects using concepts from both part A and part B.

Some of the examples of the projects are as follows (they are not mandatory but suggestive):

(i) A report on demographic structure of your neighborhood.

(ii) Changing consumer awareness amongst households.

(iii) Dissemination of price information for growers and its impact on consumers.

(iv) Study of a cooperative institution: milk cooperatives, marketing cooperatives, etc.

(v) Case studies on public private partnership, outsourcing and outward Foreign Direct Investment.

(vi) Global warming.

(vii) Designing eco-friendly projects applicable in school such as paper and water recycle.

The idea behind introducing this unit is to enable the students to develop the ways and means by which a project can be developed using the skills learned in the course. This includes all the steps involved in designing a project starting from choosing a title, exploring the information relating to the title, collection of primary and secondary data, analysing the data, presentation of the project and using various statistical tools and their interpretation and conclusion.

(viii)

KENDRIYA VIDYALAYA SANGATHANCOMMON SESSION ENDING EXAMINATION 2014

SUBJECT : ECONOMICSCLASS-XI

(SOLVED PAPER)Time : 3 Hrs. M.M. 80

GENERAL INSTRUCTIONS :(i) All questions in both the sections are compulsory.(ii) Marks for questions are indicated against each.(iii) There are 26 questions in all.(iv) Question No. 1-4 and 14-17 are very short-answer carrying 1 mark each.(v) Question No. 5-8 and 18-21 are short-answers questions carrying 3 marks each. Answers to them

should not normally exceed 60 words. (vi) Question No. 9-11 and 22-24 are also short-answer questions carrying 4 mark each. Answer to them

should not normally exceed 70 wrods. (vii) Questions No. 12-13 and 25-26 are long-answer questions carrying 6 marks each. Answer to them

should not normally exceed 100 words.(viii) Answer should be brief and to the point and the above word limit be adhered to as for as prossible.

SECTION – A

STATISTICS FOR ECONOMICS

1. Give the full form of NSSO. 12. Pocket expenditure of six students is 6, 12, 18, 24, 30, 36 respectively. Find out arithmetic mean. 13. Define correlation. 14. An investigator has collected required information by personal interview with the informant. What

type of data will it be called ? 15. Explain any three essential features of a good questionnaire. 36. Give any threee differences between Primary and Secondary data. 37. Find out the median for the data given below : 3 Class Frequency

0 - 10 10 10 - 20 05 20 - 30 05 30 - 40 10 40 - 50 15 50 - 60 05 60 - 70 10

OR

Write any three features of Median.8. Briefly explain any three function of statistics. 39. What is Scatter diagram ? What are its demerits ? 4

OR Calculate standard deviation from the following series :

Size Frequency

0 - 2 2 2 - 4 4 4 - 6 6 6 - 8 4 8 - 10 2 10 - 12 6